Greetings.
I am BEWAJI, Olufemi Oladipo.
I write to lodge a formal complaint against a fraudulent act meted out to me by Industrial and General Insurance (IGI) Plc.
I started a Life Assurance Policy (Multi Investment Plan, Policy Number: 14690) with them back in the year 2010 and was paying monthly premiums of Thirty Thousand Naira (NGN 30,000) initially consistently, then later haphazardly due to a number of conniving factors. The Policy was to lapse after 6 years (although I bought into it ab initio only because the marketer fraudulently packaged it as a 2-year policy).
A few years down the line, I tried to make adjustments to the policy in order to be able to meet up with premium payments. However, I was given conditions way too stringent to meet hence I could not proceed any further. However, I still made some premium deposits in 2015. The total premiums paid up until 2015 amounted to NGN 690,000 (Six Hundred and Ninety Thousand Naira).
In June 2019, I applied for payment of maturity proceeds as the Policy was deemed to have "matured" in 2016. I followed up with several calls to their Head Office and I received several assurances that my claims were being processed and that I would get a Discharge Voucher (DV)detailing my entitlements. This was the position of things up until Tuesday August 7th 2019 when, in a most dramatic manner, they made a volte-face telling me that I was not qualified to receive any benefits and would have to FORFEIT ALL THE PREMIUMS HITHERTO PAID (this, I was told, in the most brazen manner). A whole NGN690,000! Who does that?
The money may seem meagre but not to me because I worked hard to earn EVERY DIME I ever paid into the coffers of IGI. I feel absolutely RIPPED OFF.
I have decided to escalate this because I am desperate to get all I have with the company which amounts to the ONLY savings I have garnered over the years, and playing the levelheadedness and gentlemanly card has not paid off for several years.
I am crestfallen and I depend on your good institution to help me fight this grave injustice and and let sanity prevail because as it is, trampling on the rights and privileges of well-meaning Nigerians is one vice that must not be allowed to go unchecked!
I eagerly await your prompt and decisive action on this matter.
Many thanks for your kind attention.
Regards.
BEWAJI, Olufemi Oladipo.
08038571053